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M&G becomes issuer of certain Prudential PLC securities

M&G PLC has been substituted in place of Prudential PLC as principal debtor of certain securities and their connected coupons, effective Oct. 18.

The substitution is in connection with the proposed demerger of M&G from Prudential. The nominal amount of the tier 2 subordinated debt is £3.24 billion.

It is expected that the demerger will be completed and that M&G's shares will be admitted to trading on the London Stock Exchange's main market for listed securities by no later than 8 a.m. U.K. time on Oct. 21.